August is 'Make a Will Month'

Stephen Pinnacoli

By Stephen A. Pinnacoli, Esq. 
United Way Foundation Board Member
The Law Offices of Keane, Thomas & Pinnacoli 

In the honor of “Make a Will” month, I believe it is important to touch on the reasons why having a Will, more so an estate plan, is important for everyone. An estate plan can mean something different to everyone. Traditionally, people viewed this process as determining who gets their assets upon their death.

However, there are a variety of reasons to create a comprehensive estate plan: 

  1. Naming guardians for your minor children.
  2. Naming trusted individuals to assist you with making health care decisions or managing your finances when you’re incapacitated. 
  3. Tax planning.
  4. Avoiding probate.
  5. Protecting your assets for future generations.
  6. Protecting your assets in the event of needing long-term care.
  7. Charitable planning and giving in the most tax efficient manner for your situation.

Whatever your reason, or specific situation, everyone can benefit from consulting with an attorney to understand what is right for you.